@CA-business wrote:
Do you think leaving the business as S Corp would be the best? I can draw salary just for myself as wife is not involved and rest we can take as distribution.
Not that it matters much, but that is what I would do, personally. If the enterprise is never going to expand past you and your wife, then leaving it as an S corporation provides you with a lot of flexibility.
The downside is, of course, the fact that you have to file an 1120-S.
